Wall Street is no walk in the park. These are long hours, high stakes and unimaginable pressure. When working with sums exceeding two decimal points in normal times, there is simply no room for error – hence why the industry has a notoriously high turnover rate. So how can the world’s most prolific financial bandits not only keep their heads above water, but also stay one step ahead? The answer: exposure. What you read, learn and watch shapes your knowledge, values and beliefs. And it’s also how the most efficient minds in the world are able to separate themselves from the crowd. Here are some books the Wall Street elite are reading right now (and why you should, too).
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The books the Wall Street elite are reading right now (2022)
1. Think again
Written by New York Times Best-selling author and leading Wharton professor – Adam Grant – this book emphasizes the importance of rethinking and unlearning, as well as the pitfalls of fostering ideas that make us feel comfortable over ideas that make us think. It is easier to reside in the comfort of opinions and books that will validate your beliefs than to engage in meaningful thinking and flexible thinking, especially on Wall Street. This book will take you beyond preconceptions and open your perspective to the power of critical thinking.
Author: Adam Grant
2. The psychology of money: timeless lessons on wealth, greed and happiness
For seasoned experts and finance newbies alike, The psychology of money emphasizes the idea that when it comes to money, it’s not necessarily about what you know, but about how you behave. Award-winning author Morgan Housel uses 19 short stories that explore the weird ways people think about money and rewire our understanding of how we can make money work for us. His writing style contrasts sharply with the complexity of many Wall Street books through anecdotal means, providing original ideas to promote more effective approaches to wealth management. Well worth your time.
Author: morgan housel
3. Tools of the Titans
A compilation of the most effective high leverage tools and tactics from his podcast The Tim Ferriss Show, Tools of the Titans is an essential source of truth for optimizing your own daily performance in all aspects of life. Inspired by over 600 hours of interviews with all types of world-class icons and artists, from celebrities to special ops commanders, the insights into daily performance optimization are unparalleled. Unlike most books, Tools of the Titans relentlessly focuses on actionable detail for the reader, which is why it’s still so popular on Wall Street. The cutthroat nature of business demands that you look your best at all times. This will help you achieve that goal.
Author: Tim Ferriss
4. King of Links
The king of bonds is the story of how Bill Gross, a young gambling prodigy, turned America into his casino. Mary Childs maps the rise and fall of a visionary and ruthless investor who revolutionized boring bond markets into a destabilized landscape of high risk coupled with a ton of potential rewards. The single lens with which this book also maps its protagonist’s downfall speaks to the problems of greed and lust on Wall Street.
Author: Mary Childs
Published: 2022 (available for pre-order until release date March 15, 2022)
5. Crowd Delusions: Why People Go Crazy in Groups
With increased relevance amid media and information overload over the past 24 months, William Bernstein examines the roots of human irrationality through historical, biological, and psychosocial lenses. The book unpacks ways to avoid mass mania and maintain a sense of individuality and courage by stepping away from the mainstream. There is often a tendency on Wall Street and in the investment world to follow the masses, but in a space where you are rewarded for seeking out opportunities before others, this book speaks volumes.
Author: William J. Bernstein
6. The Naval Ravikant Almanac: A Guide to Wealth and Happiness
This book challenges the idea that wealth and happiness are unattainable fantasies, seeing them instead as skills we can learn. Through the wisdom and teachings of Native American entrepreneur and investor Naval Ravikant, it will inspire you to invest time and energy in real-world projects that generate wealth and happiness. With particular relevance to Wall Street buzzwords such as “leverage strategies” and “investment traps,” this book takes an exciting, accessible approach with incredible value for all readers.
Author: Eric Jorgenson
7. Lying for Money: How Legendary Fraud Reveals How the World Works
A former Bank of England regulatory economist, Dan Davies analyzes how high-level financial crime works and its effects on global economies. An entertaining and deeply instructive explanation of the world of financial crime, this ‘what not to do’ book has made its way to Wall Street and has been embraced with flying colors. Of particular interest was the relationship between financial crime and the modern global economy.
Author: Dan Davis